How to Make a Will in Arkansas

A Will is important and necessary as it ensures your loved ones are cared for after death. Writing a Will is simple, and below are the easy steps to write your Will in Arkansas; you can reach out to our professionals at LegalPen for any advice.

What are the Steps to Create a Will in Arkansas

When you are ready to start your Will writing journey, here are the steps to creating a Will in Arkansas; –

1. List your Assets

You Will need to make a list of everything that you own. Your assets make up a big part of your estate, so deciding what happens to them is crucial to your estate plan. Having a list of your assets is helpful in keeping all assets in your Will.

2. Name your Beneficiaries

Beneficiaries are the persons who Will inherit your assets when you die. You should have a list of your beneficiaries so you remember everyone.

3. Appoint an Executor

An executor is the individual who will be responsible for distributing your estate when you die. It is essential to appoint someone that you trust and who is capable of handling the job.

4. Compile your Documents

You should include the documentation of your assets, which Will simplify putting your Will together.

5. Make your Will

Once you have gathered all the required information, you should put it in writing and direct on the division of your assets and include any further directions or wishes you want to be carried out.

6. Sign your Will

When you have completed your Will and confirmed that you have not left anything out, you must sign it to make it official and binding. In Arkansas, the Will should be signed in front of two witnesses who should sign it further, acknowledging your signature.

7. Storage

Once your Will is signed, it is time to store it somewhere safe. There are several options for storing your Will, such as a safe deposit box, a fireproof safe, or a waterproof safe, with your Executor or attorney.

What Happens if I Don’t Have a Will?

When you die without a Will, you are considered to have died intestate, and your estate Will be distributed according to the intestate succession laws, which determine who your heirs are and how to distribute the assets.

What Are the Requirements for Writing a Last Will and Testament in Arkansas?

In Arkansas, there are requirements for Writing a Last Will and Testament that must be adhered to. The requirements are; 

1. Age

You should be at least 18 years of age or older to be able to write a Will.

2. Sound mind 

The testator should be of sound mind, not declared incompetent by a court, and be able to understand their choices and the consequences thereof.

3. Written

You must make your Will on paper, not audio, video, or any other digital file.

How Often Should You Review and Update Your Arkansas Will?

You should review and update your Will every three to five years and when necessary, when there is a significant life event, such as a health scare, marriage, divorce, birth of a new family member, death of a family member, or a considerable increase or decrease in your financial situation.

How to Revise and Update Your Will in Arkansas

When you want to revise and update your Will, you must ensure it is done correctly. At LegalPen, the legal professionals Will guide you through the process.

You can revise and update your Will through the following methods;

1. A codicil. This legal document supplements the original Will, stating amendments and additions to the Will’s provisions. The codicil Will be executed similarly to a Will. The Codicil forms part of the Will and is to be read together.
2. Making a new Will. You can revise or update your Will by writing a new Will and stating in the new Will that all other previous Wills are null and void.

What Makes a Will Valid in Arkansas?

To make sure your Will is Valid in Arkansas, the Will must comply with Arkansas Law, which has the following requirements; 

1. Signature

The testator must sign the Will at the end of the document or by asking someone to sign for them at their discretion and in their presence.

2. Witnesses

Two witnesses must witness the signing of the Will. They must sign at the testator’s request and in their presence. The Witnesses must be 18 years or older.

3. Writing

 The Will has to be made in Writing as Oral Wills are not valid in Arkansas

Can a Handwritten Will be Valid in Arkansas?

Yes, a handwritten Will, known as a holographic Will, is valid in Arkansas only if there are three witnesses. This means the Will is entirely in the testator’s handwriting and signed in their handwriting.

How Do I Sign My Arkansas Will?

When you have finalized writing your Will, the next step is to have your Will Signed. In Arkansas, there are requirements for how you should sign your Will, such as;

1. Your Will should be signed in front of two witnesses
2. You should have your witnesses sign your Will at the same time as each other. The witnesses must be physically present when you sign your Will, and you must see them sign it.
3. Your witnesses should not benefit from the estate, as they could lose the gifts left to them through the Will.

What Can I Include in an Online Will in Arkansas?

When writing your online Will in Arkansas, you can include the following; –

1. An executor
2. A guardian
3. A list of your assets
4. A list of your debts and liabilities
5. A list of your beneficiaries
6. Your bequests
7. Your last message to your loved ones

Types of Assets Covered in an Arkansas Will

Arkansas Wills cover different types of assets, but not all. Below are the types of assets that are covered in an Arkansas Will; 

1. Property/Real Estate
2. Stocks and bonds
3. Vehicles
4. Personal items (furniture, jewelry, valuables, etc.)
5. Business Accounts

Can I Revoke or Change My Will in Arkansas?

Yes, you can revoke or change your Will anytime in Arkansas. A Will contains your wishes, and it is human nature to change your mind about anything.

How do you Revoke or Change your Will in Arkansas

There are two ways in which you can revoke your Will in Arkansas; 

1. By burning, tearing, canceling, or destroying the Will to revoke it
2. Make a new will that revokes the old will by stating that you revoked all previous wills.

When you need to make any changes to your Will, you can make a codicil, an amendment to your existing Will. You must finalize your changes using the formalities you used to make the original Will.

Can I Make a Digital or Electronic Will in Arkansas?

No, you cannot make a Digital or Electronic Will in Arkansas. An electronic Will is written and stored electronically or signed, witnessed, or notarized through electronic methods.

Who Can Witness a Will in Arkansas?

In Arkansas, two witnesses must witness the signing of the Will. However, any person can witness the Will, but they must be 18 years of age or older.

Should My Will Name an Executor?

Yes, your Will should name an executor. They are the person who will be responsible for managing and distributing your assets to your beneficiaries in accordance with your wishes in the Will. In the event you do not appoint an executor, one will have to be appointed by the probate court.

What are the Arkansas Will Executor Requirements?

An executor’s primary job is to protect your property until all debts and taxes have been paid and then transfer what’s left to those entitled. Below are the Will executor requirements in Arkansas; 

1. Age

An executor must be at least 18 years old

2. Sound Mind

The executor should be of sound mind and not incapacitated by a court.

3. Felony Convictions

In Arkansas, your executor cannot be a convicted and unpardoned felon under federal or state law.

What Happens to a Will after Death in Arkansas?

When the testator dies, the Will must be found, filed with the probate court, and authenticated before its terms are carried out.

The process usually requires a court hearing, at which the parties named in the Will and those not named in the Will but would have inherited but for the Will are in attendance, and any interested party may contest the Will.

When the Will is not challenged, the executor must first pay off all debts of the estate, and the remainder of the estate will be distributed to the beneficiaries in accordance with the Will.

When the Will is challenged, another hearing is set. The challenger has the burden of proving the Will’s invalidity, and the court will decide on its validity.

In the event the Will is held Valid, the executor can pay debts, bills, and applicable taxes and distribute assets, and when the court decides the Will is invalid, it will apply the state’s intestacy laws.

What is the Impact of Marriage and Divorce on Your Arkansas Will

When you have a Will and then get married, your spouse will inherit your property through a doctrine known as dower and curtesy.

After making a Will and the testator gets divorced, all the provisions in the Will in favor of the ex-spouse are revoked.

Do all Wills in Arkansas Have to go Through Probate?

No, not all Wills in Arkansas have to go through Probate. Small estate laws were enacted to allow heroes to receive the Willed property without the lengthy probate process.

The conditions that must be met are that the estate’s total value is less than $100,000 and the claims against the estate have been paid.

Is Arkansas a Community Property State?

No, Arkansas is not a community Property State. It is an equitable distribution state, where the estate will be divided in a way that the court finds equitable or fair rather than equal as in community property.

How is Arkansas Intestate Succession Done?

Once you die without a Will, you are considered to have died intestate, and your heirs will file a case for probate in the probate court, which will appoint an administrator of your estate and decide on the distribution of your assets.

Your assets will be distributed to your family members in a hierarchy of spouses, children, parents, siblings, and other relatives.

When you die without family, your property Will escheat into the state’s coffers.

How is Estate and Inheritance Tax in Arkansas Done?

Estate Tax is a tax levied on the estate of a recently deceased person. Arkansas has no Estate Tax.

Inheritance tax differs from estate tax, and beneficiaries are responsible for paying inheritance tax on the assets they receive. Arkansas has no inheritance tax; however, inheritance laws of other states may apply to you.